Scandinavian Air Ambulance to Join Avincis Group

By Staff Writer | April 2, 2014

Scandinavian Air Ambulance (SAA) intends to join Avincis Group, according to the companies. The agreement would see the business take its place alongside Avincis’ existing companies which deliver medical emergency, search and rescue, firefighting and energy support services across eight countries worldwide with a fleet of 343 aircraft. The total enterprise value derived from the purchase price amounts to SEK707 million (approximately €80 million). The agreement would see Avincis acquire 84.6 percent of SAA for an initial cash consideration of SEK206.5 million with a further SEK84.2 million in the form of a vendor note payable in cash in two years’ time. The transaction is subject to the satisfaction of certain conditions and regulatory approvals prior to June 30, 2014.